Pay less interest and keep more cash each month with a Figure HELOC
- Get your rate as of September 17, 2025. You could receive funding in as few as 5 days!2: Navigates to bottom disclaimer: Navigates to bottom disclaimer
- No in-person appraisal needed for loans under $400K2: Navigates to numbered disclaimer
- Now available to more homeowners—credit scores 600–639 eligible on 2nd-liens (up to $250k)
- Fast HELOC application with 5-minute approval. Checking your rate won’t impact your credit!3: Navigates to numbered disclaimer
Many homeowners use a HELOC to consolidate credit cards, personal loans, auto loans, and even mortgage debt into one manageable payment. Use our HELOC calculator to see how much you could borrow
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From Overwhelmed to Empowered:
How Homeowners Use Figure to Simplify Debt
A family of 5 tries to stay afloat amid job loss
After a sudden job loss and the birth of their third child, this Indiana family of five found themselves buried in over $25,000 of credit card debt just trying to keep up with everyday expenses. With the help of a $40,000 Figure HELOC, they finally consolidated their debt into a manageable payment—cutting their monthly bills nearly in half and regaining control over their finances.
Mental health struggles lead to $40k in credit card debt
After battling depression, Nikki’s spending spiraled—what began as $5,000 in credit card debt ballooned to $40,000. With her credit maxed out and minimum payments barely making a dent, she turned to Figure. A $40,000 HELOC helped her pay off her debt in full, and paired with therapy and better spending habits, her finances—and confidence—are finally back on track.
A retiree lives above their means landing $44k in debt
When Kim (name changed for privacy) retired, the paychecks stopped—but the spending didn’t. Day-to-day and travel expenses piled up into $44,000 of credit card debt.
To take back control, Kim opened a Figure HELOC and used it to pay off the cards—replacing chaos with a clear, manageable plan.
Debt Consolidation 101 with a Figure HELOC
Figure HELOC allows you to consolidate your debt using your home’s equity in 5 simple steps:
- 1
Start your Figure HELOC application to get your free rate
No credit impact3: Navigates to numbered disclaimer
- 2
Choose the debts you want to consolidate
Use our built-in Intellidebt tool to pick which balances to pay off and see exactly how your monthly payment will change.
- 3
Complete your application in minutes
Securely connect income/assets; most lines ≤$400K don’t need an in-person appraisal.
- 4
E-sign & fund
Close online; lines ≤$400K can fund in as few as 5 days2: Navigates to numbered disclaimer with deposits to your bank.
- 5
One lower monthly payment
Multiple high-interest bills become one payment!
HELOC qualifications
Low credit score? You’re still in play. Homeowners with credit scores 600-639 can now apply for a 2nd-lien HELOC up to $250k. Start your Figure HELOC application now!
To qualify for a HELOC you need to have sufficient equity in your home.
This means that the amount that you owe on your home must be less than its current value. A lender will typically allow you to borrow and use up to 85% of the current value of your house minus the amount you owe on it.
A lender will also look at other factors when determining approval.
Such as credit score, credit history, employment history, monthly income, debt payments, and debt-to-income ratio. These same factors will be used to determine the amount of your credit line and your interest rate.
Figure’s application process is free, 100% online and it only takes a few minutes.
Use our HELOC calculator to see how much you could qualify to borrow8: Navigates to numbered disclaimer
The amount you can borrow with a HELOC will vary based on certain factors such as the appraised value of your home and what percentage of that value the lender will allow you to borrow.
To determine how much you can borrow with a HELOC, you need to first calculate the maximum amount of equity that could be borrowed. Figure’s loan amounts range from a minimum of $15,000 to a maximum of $750,000.5: Navigates to numbered disclaimer
Checking your rate today won’t impact your credit!
Adjust the chart below to create the custom amount that relates to you.
$800,000
Current Home Value
$550,000
Remaining Mortgage Amount
In this scenario, you could qualify to borrow up to
$90,000
Check Out Your Rate*Based on borrowing 80% of your current home value
How Figure stacks up to other kinds of loans
Compare side-by-side to help you make an informed decision about tapping into your home’s equity.
| Figure HELOC | Average Personal Loan* | Traditional Bank HELOC*** | |
|---|---|---|---|
| Tax benefits | Interest may be tax-deductible if used for home improvements** | Not tax deductible | For home improvement (be sure to consult a tax professional) |
| Loan amount | Based on home equity, can be up to $750k5: Navigates to numbered disclaimer | Varies by lender—typically up to $100k | Varies by lender —typically up to $400k |
| Fund disbursement | Get funding in as few as 5 days on loans of $400K or less2: Navigates to numbered disclaimer | Varies by lender, 1-3 days after approval | 2-6 weeks |
| Application | 100% online, see your rate in minutes | Varies by lender | Varies by lender—may require in-person appraisal |
| Rate type | Fixed1: Navigates to numbered disclaimer or variable9: Navigates to numbered disclaimer | Fixed, typically high* | Variable rates, potentially higher |
- * money.usnews.com/loans/personal-loans/articles/personal-loan-vs-home-equity-loan-which-is-better
- ** Please consult a tax advisor regarding the deductibility of interest and charges to your Figure Home Equity Line.
- *** lendingtree.com/home/home-equity/the-fastest-way-to-tap-your-home-equity/
What types of properties are eligible for a HELOC?
Figure offers loans on:
- Single family residences
- Condos
- Townhouses
- The property may be the applicant's primary or secondary residence
*Certain types of properties may not be eligible.
Quick and easy loan all done online!
Getting a loan was all done online easily with money in our account in days! We now have no more credit card debt! Everything is one lower payment we can afford and our house is our only debt now! We can afford to enjoy life again without constant worry!
Written by customer— Amanda G.
The whole process was easy and I got a great rate!
It was a straight forward, guided experience and the result was a great interest rate. The savings in interest and consolidation using the equity in my home saved me over $700 in monthly payments.
Written by customer— Jeremiah
My experience with Figure was so simple
In just a few days the money was deposited into my bank account! I was able to use equity in my home to pay off my credit card debt that had been overwhelming me financially. I was barely able to pay just the interest on my credit card debt. Now I just have one low monthly payment, and my credit card debt is gone!
Written by customer— Jackie
Easy Application Process
I needed to get rid of some credit card debt and Figure gave me the chance to do it, while others would not.
Written by customer— Dennis G.
3667 Excellent Reviews on trust pilot
Trustpilot reviews Opens in a new window.$17B
in equity unlocked with Figure’s platform
201K+
households served with Figure's platform
100%
online application process
See how much you could get with a no-obligation quote3: Navigates to numbered disclaimer
Frequently asked questions
A home equity line of credit, or HELOC, is a revolving line of credit. Instead of receiving a one-time loan amount as you do with a traditional loan, a HELOC gives you a borrowing limit (or credit limit). As you repay the balance, you can withdraw money from the credit line as you would with a credit card when you need it.
There are lenders that offer both variable rate and fixed interest rate home equity lines of credit. Figure offers both fixed1: Navigates to numbered disclaimer and variable8: Navigates to numbered disclaimer options so you can choose the option that works best for you. A fixed-interest rate HELOC can provide payment predictability and peace of mind for borrowers. A variable-interest rate can change over time and follows the market. Some months your payment could be higher, and some months it could be lower.
To qualify for a HELOC, you must have sufficient equity in your home, meaning the amount you owe must be less than the home's current value. Lenders typically allow borrowing up to 85% of the home's value minus what you owe. Besides equity, lenders consider factors like credit score, credit history, employment, income, debt payments, and debt-to-income ratio to determine approval, credit line amount, and interest rate. The qualification process is similar to applying for a mortgage, so it's important to research and ensure you meet specific lender requirements before applying.
You may be able to deduct interest paid on a home equity product if the loan is used for home improvement. You should consult a tax advisor regarding the deductibility of interest and charges.
Most applicants can complete the application in 5 minutes and you'll receive the results of your prequalification request immediately. However, final approval is subject to verification of income and employment, as well as the condition of the property.
A home equity loan provides a lump sum with fixed payments and interest, usually over 5 to 20 years, and is often used for major home repairs or debt consolidation. In contrast, a traditional HELOC offers a flexible credit line for ongoing expenses, allowing you to borrow as needed over a set period. Figure's HELOC gives you the full amount upfront, but like a traditional HELOC, you can borrow again once part of the principal is repaid.
Yes, for 2nd-lien HELOCs with a maximum line of $250k (state and profile dependent).
A line of credit that sits behind your first mortgage; you keep your current mortgage and add a separate line.